Description

Checks that the International Securities Identification Number (ISIN) input in the function is valid. Returns 1 if the ISIN is valid, 0 otherwise.

Syntax

=MM_CHECKISIN("ISINCodeValue")

• "ISINCodeValue"
  String. ISIN to check.
  Returns 1 if the ISIN is valid, 0 otherwise.

Remarks

• The algorithm used to check if the ISIN code is valid is the following:
  • Checks that ISINCodeValue is 12 characters long and starts with a country code in 2 letters. If not, the ISIN is invalid.
  • Replaces each letter by its corresponding number (A = 10, B = 11,..., Z = 35). Multiply one digit out of two by 2 and then sum all digits of the result. If the difference between 10 and the last digit of the sum is equal to the last digit of ISINCodeValue, then the ISIN is valid. Otherwise, it is not.

• A similar function exists to check if a LEI is valid: MM_CHECKLEI.

Example

• Formula 1: =MM_CHECKISIN(A3)
  Returns 1 since the ISIN code is valid.

• Formula 2: =MM_CHECKISIN(A4)
  Returns 0 because the string in A4 does not meet all criteria.